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World Bank Approves $300M To Help Ghana’s Economic Recovery

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As the COVID-19 pandemic takes its toll on Africa, not only precious lives have been lost, but also some of the world's poorest countries are slipping further into the grip of a debt crisis. The IMF recently warned that no fewer than 20 countries in Sub-Saharan Africa are either already in debt distress or at high risk of debt distress. To find a way out, it is important to answer a key question first: who is responsible for Africa's debt crisis?

• Deficit already N3 trillion at end of May • Debt service ratio hits 97% The possibility of the Federal Government resorting to further borrowings or ‘ways and means’ (government facility from the Central Bank of Nigeria) to cushion the effect of revenue shortfall is imminent due to the rising fiscal deficit, despite a rise in oil prices. As observed in the 2021 performance up to May, the 2022-2024 Medium Term Expenditure Framework Fiscal Strategy document (MTEF/FSP) showed that inflation, subsidy payments, and weaker-than-expected economic performance continue to threaten governmen...

Race to 2023: Can a Nigerian Woman Become President? Court Sentences Ghanaian Actress, Akuapem Poloo, To 3 Months Imprisonment Over Nude Photoshoot With Her Son  0 likes 0 comments By Bamikole Omishore After an article which I wrote and had published a few weeks ago “on the road to 2023”, in which I expressed disappointment at the abysmal representation of women in leadership positions in political parties and government, I was challenged by some concerned Nigerians to list...